Energy Storage and Balancing Engines Crucial for Renewable Integration

Grid balancing technologies and energy storage are essential for realizing the full economic advantages of renewable energy. Anders Lindberg, President of Wärtsilä, highlights this need amid polarized discussions on net zero targets and energy costs. Renewables now form 90% of new power capacity, yet energy prices have climbed. This disconnect leaves stakeholders questioning the tangible benefits of green investments. Excess renewable generation leads to energy waste through curtailment, forcing shutdowns of wind and solar farms. This practice increased costs significantly, with Britain’s electricity network facing an additional £253 million in the first two months of 2025. Lindberg stresses that investing in balancing solutions and storage systems directly combats this waste and boosts grid efficiency. He advocates for a combined approach of renewables, storage, and balancing engines. This strategy offers a clear path to net zero goals. Such integration could yield cumulative savings of €65 trillion by 2050, according to Wärtsilä's analysis.